MoneyLion (NYSE:ML) Sees Unusually-High Trading Volume – Time to Buy?

Shares of MoneyLion Inc. (NYSE:ML) saw an uptick in trading volume on Friday . 313,512 shares were traded during trading, an increase of 48% from the previous session’s volume of 211,729 shares.The stock last traded at $85.85 and had previously closed at $86.25.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on ML. Lake Street Capital restated a “hold” rating and set a $82.00 price objective (down previously from $109.00) on shares of MoneyLion in a research report on Wednesday. Oppenheimer upgraded shares of MoneyLion from a “market perform” rating to an “outperform” rating and set a $80.00 price target on the stock in a research report on Thursday, November 7th. Needham & Company LLC reiterated a “hold” rating and issued a $100.00 price target on shares of MoneyLion in a research report on Wednesday. Cantor Fitzgerald upgraded shares of MoneyLion to a “strong-buy” rating in a research report on Thursday, October 3rd. Finally, Northland Securities increased their price target on shares of MoneyLion from $80.00 to $100.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 27th. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $94.00.

MoneyLion Stock Up 1.2 %

The stock’s 50 day moving average price is $65.05 and its 200-day moving average price is $63.02. The stock has a market capitalization of $968.48 million, a PE ratio of 392.41 and a beta of 3.08.

Insider Transactions at MoneyLion

In related news, CAO Mark Torossian sold 328 shares of the firm’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $80.00, for a total transaction of $26,240.00. Following the completion of the transaction, the chief accounting officer now directly owns 20,409 shares of the company’s stock, valued at approximately $1,632,720. This trade represents a 1.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Timmie Hong sold 2,504 shares of the firm’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $48.35, for a total transaction of $121,068.40. Following the transaction, the insider now directly owns 103,353 shares of the company’s stock, valued at $4,997,117.55. The trade was a 2.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 109,872 shares of company stock valued at $8,998,024 over the last three months. Corporate insiders own 11.90% of the company’s stock.

Hedge Funds Weigh In On MoneyLion

Institutional investors have recently bought and sold shares of the stock. Covestor Ltd grew its stake in shares of MoneyLion by 63.6% in the 3rd quarter. Covestor Ltd now owns 656 shares of the company’s stock worth $27,000 after buying an additional 255 shares in the last quarter. ClariVest Asset Management LLC grew its stake in shares of MoneyLion by 2.6% in the 2nd quarter. ClariVest Asset Management LLC now owns 10,175 shares of the company’s stock worth $748,000 after buying an additional 257 shares in the last quarter. FMR LLC grew its stake in shares of MoneyLion by 154.6% in the 3rd quarter. FMR LLC now owns 1,049 shares of the company’s stock worth $44,000 after buying an additional 637 shares in the last quarter. Point72 DIFC Ltd bought a new stake in shares of MoneyLion in the 3rd quarter worth about $40,000. Finally, GSA Capital Partners LLP lifted its holdings in shares of MoneyLion by 10.4% in the 3rd quarter. GSA Capital Partners LLP now owns 14,427 shares of the company’s stock worth $599,000 after acquiring an additional 1,360 shares during the last quarter. 31.43% of the stock is owned by hedge funds and other institutional investors.

About MoneyLion

MoneyLion Inc, a financial technology company, provides personalized products and financial content for American consumers. The company's platform offers access to banking, borrowing, and investing solutions for customers. Its principal products include RoarMoney, an insured digital demand deposit account; Instacash, a cash advance product that gives customers early access to their recurring income deposits; Credit Builder Plus membership program; MoneyLion Investing, an online investment account that offers access to separately managed accounts invested based on model exchange-traded fund portfolios; Roundups, which provides features designed to encourage customers to establish good saving and investing habits; and MoneyLion Crypto, an online cryptocurrency account.